Dragonpay is a Philippine-based alternative online payment solution that uses online and offline banking facilities, and other non-traditional brick-and-mortar outlets, to accept payments from a broader market base in a more secure and cost-effective manner.

Sunday, May 15, 2011

The Landbank of the Philippines (Landbank, for short) is one of the Top 5 banks in the Philippines. Its total assets of PHP529.6B in 2010 made it the fourth biggest bank in terms of assets and deposits as of 2010. Based on a Bangko Sentral report on June 2010, Landbank ranked first in terms of return on assets. Landbank maintains a network of over 338 full-service branches nationwide as of 2010.

Landbank is a government-owned bank. It is the default depository bank of most government units and agencies. Majority of the country's government workers or civil servants would have a Landbank account because that is where they receive their salaries.

Landbank offers its retail customers with an online banking facility called iAccess. Unfortunately, Landbank does not allow retail customers to link their accounts to corporate accounts via this facility. Because of that, Dragonpay does not support iAccess payments, only over-the-counter.

Customers who make purchases from Dragonpay-accredited merchants can pay through any Landbank branch nationwide even if they do not maintain an account with the bank. They just need to fill-up a deposit slip and validate their payment online. Note that Dragonpay processes Landbank deposits only on the next business day. Landbank charges a cash handling fee for provincial payments. There are no surcharges for deposits within Metro Manila.